Last night I said $PREDICT was a market-maker trap before the session, and that a short squeeze could push it to 1.05–1.1 in the short term, but to watch out for a sell-off afterward. This morning, it played out just like that: the price kept climbing overnight and touched 1.0881 shortly before 5 a.m. Beijing time, right in that range. Open interest also rose from 5.39 million contracts last night to 5.61 million at 5 a.m. Once the shorts were squeezed, the market immediately turned; from 5 to 6 a.m., it plunged from the highs to 0.9965, giving back about 8% in just over an hour. At 7:38, it’s hovering around 1.028. Retail accounts are still 75.7% short, while large traders’ positions remain 53.6% long, and open interest has only slipped slightly from its peak. The post-squeeze sell-off played out as expected, but the market makers haven’t fully exited yet, so don’t rush to chase it.